The ICAEW has published an update to its guide to private equity. Called, inspiringly, Private equity demystified – An explanatory guide, it aims to provide "an objective, up to date explanation of private equity, recognising that for public scrutiny to be effective it must be conducted on an informed basis."

The preface observes, rather forlornly, that

It remains the case that media coverage of private equity and some public commentary have frequently displayed a poor understanding of how private equity operates, yet these sources are frequently relied upon as fact. This guide provides an objective explanation of private equity, recognising that for public scrutiny to be effective it must be conducted on an informed basis.

I suspect that this won't do very much to improve the quality of media reporting on hedge funds and private equity. While the hedge fund industry now has a better profile, in the form of Hugh Hendry, media coverage seems compelled to descend into childish "they're rich so they must be bad" taunts. And although Poul Rasmussen was badly duffed up by Hendry on Newsnight and Boris Johnson has come out in support, the EU's temporary halt in increasing regulation on both sectors is likely to prove only temporary. This is ironic, seeing as neither hedge funds nor private equity had anything to do with the crisis. Such is politics.

People who read this post also read:

• Hugh Hendry is the man
• The ICAEW annual review and AGM 2011
• Ritchie on the teaching of accountancy
• Another accounting novel: The Geneva Connection
• The alternative Finance 100

Filed under: Capital markets, Institutes, Regulation with tags boris johnson, hedge funds, hugh hendry, icaew, newsnight, poul rasmussen, private equity